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Nematicides Market Growth, Opportunities, Leading Key Players, and Forecast to 2025

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Nematicides Market Growth, Opportunities, Leading Key Players, and Forecast to 2025

October 21
16:23 2020
Nematicides Market Growth, Opportunities, Leading Key Players, and Forecast to 2025

MarketsandMarkets™
The growing demand for high-value crops alongside the increasing infestation of nematodes on crops are some of the factors driving the growth in the market.

The global nematicides market size is estimated to be valued at USD 1.3 billion in 2020 and is projected to be worth USD 1.6 billion by 2025, recording a CAGR of 3.4% during the forecast period. The strong demand for high-value crops, crop losses due to nematodes, and advancements in farming practices and technology are some of the factors driving growth in the nematicides market.

Nematicides Market

Key players in this market include Corteva Agriscience (US), Syngenta (Switzerland), Bayer AG (Germany), and BASF SE (Germany). New product launches, expansions, acquisitions, and agreements & joint ventures were some of the core strengths of the leading players in the nematicides market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.

Some of the other players in the nematicides market include Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Nufarm (Australia), UPL Limited (India), Isagro Group (Italy), Valent USA (US), Chr. Hansen (Denmark), Certis USA LLC (US), Marrone Bio Innovations (US), American Vanguard Corporation (US), Crop IQ Technology (UK), and Real IPM Kenya (Kenya).

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BASF SE (Germany) is one of the global leaders in the crop protection industry. It offers nematicide solutions through its agricultural solutions business. The company is now among the world‘s leading players in the nematicides market due to the strategic acquisition of Bayer CropScience’s (Germany) crop protection business and assets, which complement BASF’s agricultural solutions business. The acquisition is aimed at improving BASF’s presence in Europe and Asia Pacific, alongside improving the research activities on herbicides and nematicides. The company has also invested in introducing patented technologies for nematode management seed treatment, which would provide growers with enhanced protection against various damaging nematode species in row crops.

Corteva Agriscience (US) is a global leader in two of the largest and promising markets in the agricultural sector, namely, seed and crop protection. The company offers nematicides through its crop protection business, which contributes about 44% of the revenue to the company. Corteva has a distribution agreement with Dow AgroSciences, which gives the former exclusive rights in the distribution of soil fumigant products of the latter.

Bayer AG (Germany) – The crop science division of the company has been working on introducing seed and crop protection products and digital solutions. Bayer has also been aligning with the developments in the agricultural sector. It offers nematicides through its crop science division. The acquisition of the assets of Monsanto Company (US) in June 2018, which led to the expansion of its seeds and crop science business, has also allowed the company to capture a significant share in the nematicides market.

Driver: Strong demand for high-value crops

High-value agricultural products are generally defined as agricultural products with a high economic value per kilogram (or pound), per hectare, or per calorie, which includes fruits, vegetables, meat, eggs, milk, and fishes. The key factors driving the demand for high-value crops (fruits, vegetables, and plantation crops) are the rise in the income of consumers, rapid urbanization, and the increase in awareness about health benefits associated with fruits & vegetables. Besides, an increase in foreign direct investment (FDI) has led to a surge in the production of high-value crops. The demand for nematodes is mostly found in high-value crops, such as pome fruits, grapes, cotton, tomato, maize, cotton, and other vegetable and ornamental crops, as they improve the crop quality and yield.

Opportunity: Providing customized solutions targeted toward specific pests

With the growing environmental and pollution concerns and health hazards from many conventional agrochemicals, the demand for natural biologicals is rising steadily across regions. Customers are witnessing a high demand for new biological products such as bionematicides to use against nematodes on standing crops, which cause crop damages, thereby reducing the overall farm yield and quality. The use of biologicals and related alternative management products is increasing. R&D teams of major global players are also engaged in discovering target-specific innovative products by using biological insecticides, which promote organic agriculture.

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North America to be the largest market for nematicides during the forecast period.

The region is a host to some of the major players in the nematicides market such as BASF SE (Germany), Bayer AG (Germany), Syngenta (Switzerland), and Nufarm Ltd (Australia) who actively invest on new product launches that would cater to nematode attacks on field crops such as soybean, corn, and cotton which are majorly produced in countries such as the US and Mexico. The acreage which is being brought under field crops is growing due to increased international and domestic demand for these field crops. The adoption of genetically modified seeds has also increased the cases of nematode infestation on crops such as soybean and corn, thereby driving growth in the market.

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